Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the utility sector. This time, you get to discover 5 hand-picked customer engagement solutions for utility companies.
Global Startup Heat Map highlights 5 Top Customer Engagement Solutions for Utility Companies out of 1 051
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 1 051 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 1 046 customer engagement solutions for utility companies, get in touch.
Advizzo offers Customer Engagement Solutions
Current water consumption levels are already pushing water networks to their limits. This is partly due to the lack of quantifiable data available to customers regarding their usage, which leads to more consumption than required. While smart meters provide quantitative data, consumers still lack insights from this data. To alleviate this problem, startups are creating solutions that promote customer engagement.
UK-based startup Advizzo specializes in data & behavioral science to deliver customer engagement solutions for the utility sector. Its personalized home reports provide customers with usage insights, benchmarks, tips, and actions that evolve over time and motivate them. Moreover, Advizzo’s Software-as-a-Service (SaaS) solution addresses utility industry challenges through behavioral experimentation across multiple channels to drive consumers towards sustainable practices.
Ambit builds Chatbots for Energy Utilities
The energy industry is adopting smart technologies and automation in its transmission and storage infrastructure to save costs. However, when it comes to customer service, energy utility operators lag behind other industries in modernizing their processes. One reason is the lack of effective customer engagement solutions that offer the same value provided by human support staff. This is why startups are using artificial intelligence (AI) to build chatbots that enhance customer experiences.
US-based startup Ambit creates AI-powered digital employee chatbots that build customer rapport for energy utilities. The chatbots nurture customer loyalty through instant, positive, and frictionless service and support experiences. In addition to escalating high-value requests to human agents, it automatically handles surges in calls from seasonality. Thus, Ambit minimizes operational costs while also proactively engaging customers with tailored offers and promotions to drive sales.
Bynry facilitates Customer Onboarding Automation
Electric utility companies are increasingly using smart meters to reduce energy waste while also providing customers with reports and summaries. However, existing solutions offer customers a poor initial experience due to complex meter installation or application processes that results in high churn rates. To avoid this, startups are focusing on solutions that provide users with a quick, intuitive, and informative onboarding experience.
US-based startup Bynry develops AI-based customer experience software for utility companies. Its cloud platform automates time-consuming and repetitive processes as well as provides a simple way for customers to interact with utility personnel. This reduces customer complaints, and the software also notifies them of the progress in real-time. For example, the onboarding process includes collecting information, service charges, or collateral as well as offering rate plans and service agreements during the interaction, which the startup’s software automates with minimal employee intervention.
Sentimer provides a Smart Assistant
The COVID-19 pandemic, and other factors, contribute towards an increase in the number of people working from home and using telecommunication services. However, as a result of this sudden increase, telecom companies have to adapt their sales and customer engagement strategies to meet the changing requirements. To facilitate this, startups are developing AI-based solutions that provide more personalization in marketing and sales.
Spanish startup Sentimer develops AI solutions for customer engagement that are tailored for utility companies. Its solution increases sales conversions by offering personalized plans to visitors based on their individual requirements. The smart assistant matches the individuals with its existing catalog, qualifies leads, and collects necessary data to address customer needs, thereby reducing contact center costs.
Jetlink develops Self-Learning Conversational AI
Utility companies are using smart technologies to digitize, automate, and enhance customer interaction experiences. Chatbots and automation are some of the technologies adopted by operators to provide better customer service. However, traditional automated customer support systems cannot handle complex queries and lack the capacity to gauge customer sentiment in a conversation. This is why startups are creating AI-based conversational systems that are empathetic and provide better customer interaction experiences.
Dutch startup Jetlink develops a comprehensive conversational AI engine with accurate intent recognition capabilities. The startup’s Probabilistic AI is a self-learning system that works in parallel with three natural language processing (NLP) engines. The conversational intelligence recognizes and understands what customers are asking for, while also processing the context of their questions. Jetlink’s conversational AI finds applications across several industries, including for energy and utility companies.
Discover more Utility Startups
Startups such as the examples highlighted in this report focus on artificial intelligence, conversational AI, automation as well as smart meters. While all of these technologies play a major role in advancing utility management, they only represent the tip of the iceberg. To explore more solutions, simply get in touch to let us look into your areas of interest. For a more general overview, you can download one of our free Industry Innovation Reports to save your time and improve strategic decision-making.